Asia Bizz: HP Eyes ArcSight Inc. For $1.5 Billion
HP is now eying ArcSight Inc. and has placed a bid for $1.5 billion dollars for its acquisition. ArcSight is a security software firm, and this way HP will be able to expand its business in a more prominent manner. The offer places HP giving $43.50 per share and that makes it a 24% premium on ArcSight purchase.
Share trading of ArcSight was above $44, which indicates that there could be a demand for a higher bid in the future. The deal is said to be finalized and to be taken over by the year end and that, this will be second biggest deal that HP will be finalizing after Hurd left the post of the CEO.
Mark Hurd today is the Co-President of Oracle, and they feel he will be doing better at Oracle than HP. On the other HP is busy in taking over 3PAR, along with its rival bidder Dell, for the moment the bid has touched $2.4 billion.
